PennyMac had 271 approved correspondent sellers at March 31, up from 229 at the end of the fourth quarter.

Fannie Mae reported nice guaranty fee income in first quarter, but as one former GSE executive told us: “Their expenses are out of control.”

Redwood Trust officials said its next jumbo MBS likely will be issued late in the second quarter.

CSP watchers say the GSE platform is starting to look like an orphan under director Mel Watt. But will Watt mention the project in his first public speech next week?

The transfer of mortgage servicing rights from one owner to another will continue to be a focus for state regulators.

Fitch said ignoring broker price opinions dramatically increased the likelihood of underestimating potential loss severities and results in insufficient credit enhancement.

Ocwen's share price fell 7 percent on the day, moving closer to its 52-week low of $33.54. Its high is a mouth-watering $60.18. In other words, its market cap has been almost halved.

Major contributors to the jumbo MBS include New Penn Financial with a 25.5 percent share, Prospect Mortgage and Prospect Lending with a combined 20.4 percent share and Quicken Loans with a 15.5 percent share.

The TV ad we viewed is so glowing in praise that one might think the GSEs themselves produced it.

A new trade group is showing true love for Fannie Mae and Freddie Mac. Also, the Consumer Financial Protection Bureau is giving lenders some breathing room on the Qualified Mortgage/Ability-to-Repay rule.